November 6, 2007
Following years of decline, J.C. Penney brought in a ringer. Ron Johnson seemed like the perfect fit to fix the flagging retailer.
Yet, 17 months later, the CEO was out of a job after what Steve Rosa of Business Insider described as “a failure so epic that experts and critics now question whether the 111-year-old retail chain will survive at all.”
Unfortunately, Johnson’s story is familiar – just search “fired CEO” and you can find dozens of examples. Buyers’ Remorse, a complimentary ebook from Hogan Assessments, demonstrates that, although each of these ousted leaders was influenced by a different set of outside circumstances, many of their stories share a common thread: their ability to lead was undermined by a misalignment of values.